TORONTO, April 28 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Hydro One Brampton Networks Inc. (Hydro One Brampton). The new rates are effective January 1, 2011.
The rate changes announced today represent an overall bill increase of approximately $0.85 or 0.9% for residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill.
Hydro One Brampton requested $62.8 million to cover their costs for the 2011 rate year such as costs for operations, maintenance and administration, and to fund capital projects that will be in service in 2011. The Board approved a revenue requirement of $59.5 million.
In its Decision, the Board:
- Reduced Hydro One Brampton's operations, maintenance and
administration costs from 24.3% over 2009 actual spending to 10%;
- Updated Hydro One Brampton's cost of capital to incorporate the
Board's recent cost of capital parameters;
- Reduced the amount Hydro One Brampton can recover from payments-in-
lieu of taxes.
A table of the estimated bill impacts on residential consumers is available on our website at http://www.ontarioenergyboard.ca/OEB/_Documents/2011EDR/bill_impacts_2011.pdf.
For more information please refer to the 2011 Electricity Distribution Rates Backgrounder on our website site at http://www.ontarioenergyboard.ca/OEB/_Documents/Press+Releases/bckgrndr_2011.pdf.
The Ontario Energy Board regulates the province's electricity and natural gas sectors in the public interest. It envisions a viable and efficient energy sector with informed consumers and works toward this vision through regulation that is effective, fair and transparent. For more information on the Board, please visit our web site at www.ontarioenergyboard.ca or contact the Consumer Relations Centre at 416-314-2455 or toll-free at 1-877- 632-2727.
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SOURCE Ontario Energy Board
For further information: Media Inquiries, Vanda Wall, Ontario Energy Board, 416-544-5171; Public Inquiries, 416-314-2455, Or 1-877-632-2727